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WAEC Financial Accounting 2023 Question 42

Question 42

Cash Book

Use the following information to answer questions 41 to 43.
The following transactions were recorded in the cash book of Ibusah for the month of February 2019:
Balance b/f: D 200,000
Commission received: D 180,000
Receipts from Ojah: D 98,300
Electricity bill: D 40,000
Rent: D 73,400
Drawings: D 28,600
Insurance: D 12,800
The balance brought down at the end of the month is

  1. A.D 478,300.
  2. B.D 323,500.
  3. C.D 278,300.
  4. D.D 154,800.
Show the answer and explanation

Answer: B (D 323,500.)

Explanation

200,000 + 278,300 − payments (40,000 + 73,400 + 28,600 + 12,800 = 154,800) = D 323,500.